Released as a part of the company’s trading update for the 40 weeks to 19 June 2021, the group revealed that its retail revenues spiked 207% year-on-year to £1.6bn for the quarter.
Despite the rise in the 16 weeks to 19 June 2021, ABF saw total revenues decline 2% to £9.96bn in the 40-week period when compared to FY20.
Moreover, Primark’s retail revenue fell 11% year-on-year to £3.84bn for the 40-week period as “volatility remains high and performance varied by region” depending on Covid-19 restrictions.
Primark’s like-for-like sales did, however, rise 3% on a two-year basis for Q3 as “a number of new sales records were set” upon the lifting of lockdown restrictions.
The group said: “Data for the total UK clothing market, which includes online sales, for the seven-week period after reopening shows both volume and value share gains for Primark on a two-year basis.”
In turn, ABF added that it expects its full year profits to be “broadly in line with that achieved last year”.